The NEW waiting to exchange thread...

naomibm

Caz_Mnaz said:

naomibm said:

Natbag said:

Thank you @ZSC - it's been like a long-running TV drama hasn't it?! 

I really hope you get to exchange soon...ive been watching your progress....here's hoping.

After our first buyer pulled out close to exchange back in March, I'm terrified of the same thing happening again with current buyer, despite everything seeming pretty smooth atm, and them getting a bit of a bargain as we took a low offer to get our dream house. I was hoping to exchange today but I highly doubt that now. We are in a chain of 4: buyer-us-vendor-vendors purchase.  I was told wednesday that there is one enquiry on our vendors purchase which should be back by today, and our buyers solictor needs to confirm they are ready (our buyer has messaged us to say they are but nothing from solictor as yet). My solcitor has rang and said vendors want week of 7th or 14th of June. I just want to EXCHANGE!! I'm sick with nerves and can barely sleep. Is anyone else feeling similar?

Yups.... I'm just one big ball of anxiety...... 

I've been watching your journey and hoping for you!!

laura_lau

naomibm said:

Natbag said:

Thank you @ZSC - it's been like a long-running TV drama hasn't it?! 

I really hope you get to exchange soon...ive been watching your progress....here's hoping.

After our first buyer pulled out close to exchange back in March, I'm terrified of the same thing happening again with current buyer, despite everything seeming pretty smooth atm, and them getting a bit of a bargain as we took a low offer to get our dream house. I was hoping to exchange today but I highly doubt that now. We are in a chain of 4: buyer-us-vendor-vendors purchase.  I was told wednesday that there is one enquiry on our vendors purchase which should be back by today, and our buyers solictor needs to confirm they are ready (our buyer has messaged us to say they are but nothing from solictor as yet). My solcitor has rang and said vendors want week of 7th or 14th of June. I just want to EXCHANGE!! I'm sick with nerves and can barely sleep. Is anyone else feeling similar?

Yes, I feel exactly like that! My solicitor refuses to even start proposing dates until all enquiries are resolved, as 2 are still outstanding... My offer was accepted on 22nd January, so it's been a long time, and being at the end of may without even having a vague idea of when we can exchange is driving me mad! I can't take another day without knowing, but then there's nothing else I can do now, other than chasing and waiting and waiting a bit more for replies! 

Natbag

laura_lau said:

naomibm said:

Natbag said:

Thank you @ZSC - it's been like a long-running TV drama hasn't it?! 

I really hope you get to exchange soon...ive been watching your progress....here's hoping.

After our first buyer pulled out close to exchange back in March, I'm terrified of the same thing happening again with current buyer, despite everything seeming pretty smooth atm, and them getting a bit of a bargain as we took a low offer to get our dream house. I was hoping to exchange today but I highly doubt that now. We are in a chain of 4: buyer-us-vendor-vendors purchase.  I was told wednesday that there is one enquiry on our vendors purchase which should be back by today, and our buyers solictor needs to confirm they are ready (our buyer has messaged us to say they are but nothing from solictor as yet). My solcitor has rang and said vendors want week of 7th or 14th of June. I just want to EXCHANGE!! I'm sick with nerves and can barely sleep. Is anyone else feeling similar?

Yes, I feel exactly like that! My solicitor refuses to even start proposing dates until all enquiries are resolved, as 2 are still outstanding... My offer was accepted on 22nd January, so it's been a long time, and being at the end of may without even having a vague idea of when we can exchange is driving me mad! I can't take another day without knowing, but then there's nothing else I can do now, other than chasing and waiting and waiting a bit more for replies! 

Your offer was accepted 2 weeks after mine, and you are where I was 2 weeks ago. It's just the worst. Hoping it's any day now for you.

naomibm

laura_lau said:

naomibm said:

Natbag said:

Thank you @ZSC - it's been like a long-running TV drama hasn't it?! 

I really hope you get to exchange soon...ive been watching your progress....here's hoping.

After our first buyer pulled out close to exchange back in March, I'm terrified of the same thing happening again with current buyer, despite everything seeming pretty smooth atm, and them getting a bit of a bargain as we took a low offer to get our dream house. I was hoping to exchange today but I highly doubt that now. We are in a chain of 4: buyer-us-vendor-vendors purchase.  I was told wednesday that there is one enquiry on our vendors purchase which should be back by today, and our buyers solictor needs to confirm they are ready (our buyer has messaged us to say they are but nothing from solictor as yet). My solcitor has rang and said vendors want week of 7th or 14th of June. I just want to EXCHANGE!! I'm sick with nerves and can barely sleep. Is anyone else feeling similar?

Yes, I feel exactly like that! My solicitor refuses to even start proposing dates until all enquiries are resolved, as 2 are still outstanding... My offer was accepted on 22nd January, so it's been a long time, and being at the end of may without even having a vague idea of when we can exchange is driving me mad! I can't take another day without knowing, but then there's nothing else I can do now, other than chasing and waiting and waiting a bit more for replies! 

Yeah...we had our offer accepted on house early Jan....my nerves are a state! 

cherrypancakes

laura_lau said:

cherrypancakes said:

Morning everyone! And best of luck to everyone completing or exchanging today
So my solicitor has replied to me this morning to let me know that they have received answers to all their enquiries and they are preparing the report for me which is 'currently with their typists', can't lie that made me chuckle! It should be with me 'shortly' - I think we all know that could be today or in two weeks - I hope to God I'm nearing, slowly losing the will to go on!

In other news (somewhat good!), I decided on the builder for my flat renovation - gotta start planning my kitchen & bathroom now, eek!

Random question - does anyone know how long it takes for accord to transfer mortgage funds to your solicitor?

That made me chuckle too! You might be using my same solicitor, as I was advised I would receive the contract to sign "shortly" about a week ago, and then again "shortly" on Tuesday, but still waiting! I chased yesterday, hopefully she replies today! I am also waiting update on the last 2 outstanding enquiries, so I feel this wait is endless! But my solicitor's typists might be particularly slow! 

the wait is so  painful, nobody tells you that when you buy a property you basically need to become a project manager to keep everything moving along 

Scottish_Dorset said:

cherrypancakes said:

Morning everyone! And best of luck to everyone completing or exchanging today
So my solicitor has replied to me this morning to let me know that they have received answers to all their enquiries and they are preparing the report for me which is 'currently with their typists', can't lie that made me chuckle! It should be with me 'shortly' - I think we all know that could be today or in two weeks - I hope to God I'm nearing, slowly losing the will to go on!

In other news (somewhat good!), I decided on the builder for my flat renovation - gotta start planning my kitchen & bathroom now, eek!

Random question - does anyone know how long it takes for accord to transfer mortgage funds to your solicitor?

We're with Accord also, we have signed contracts and returned them to the solicitor, she should get them today.  We are still awaiting responses from 5 enquiries, 3 of which are asking for a water bill from the vendor, the house has been empty for over a year and the seller is a developer who rented it out.  Don't think they will have a recent bill, there is A LOT of post sitting in the property.  The other two questions are about sewage, asking for bills.  Again, the sewage is being treated by a micro sewage plant split between three properties.  No bills yet.  I've told the solicitor that we don't want these minor details to hold everything up.

Our Accord Mortgage offer runs out early June so we are desperate to exchange/complete.  Fingers crossed everyone!

It is a tad annoying when they seem to ask for things that seem inconsequential - I mean a water bill??? Really, can't they just agree in writing that you're not liable for any costs or charges incurred before completion! Mine runs out in August, hoping we don't make it past June

cherrypancakes

n0438 said:

Drum roll.......
Nearly 6 months to the day of accepting an offer and then making one on new place we have finally exchanged 🎉🎉

Everyone who is going through a torrid time, there's hope 🙂

sassypurple said:

Finally have some good news - the charge has been removed from land registry and we can finally complete. Our solicitor has said hopefully the 27th if our buyer is ok with that, not heard anything back to confirm yet but as she moved into rented in Jan I know she is eager to complete ASAP so fingers crossed as our mortgage offer expires on the 28th. 
Didn't think we would ever get to this stage - good luck everyone hoping for positive news for everyone else.

Congrats to you both!

Tiglet2

Dadto3Boys said:

Has anyone applied an "Allowance" instead of reducing the offer on a house?
My solicitor seems happy with this, yet EA and vendors Sols not so much.

Yes, perfectly normal. 

It's often done when a buyer wants to reduce the purchase price after some necessary works are revealed in the survey.  It is usually better if the buyer does the work after completion, rather than trust the seller to do it to a good standard before exchange. 

If the seller agrees to pay for the work, an allowance of, say, £3000 is entered into the contract which simply means that the buyer's solicitor will send the completion monies needed for the purchase at completion, minus £3000.  This way, the buyer can do whatever work is necessary and to their satisfaction after completion, in their own time. 

If the transaction is nearing exchange, it is not a good idea to reduce the purchase price by £3000, because this will necessitate a new mortgage offer having to be issued by the buyer's lender and it may change the buyer's loan to value, so this can add a delay to the transaction, while all the paperwork is amended and signed/witnessed again.

amyr

God this is HORRENDOUS. Neither solicitor seems to be receiving emails from the other, yet everything is 'we are waiting on the seller / buyer'.

The anxious human in me almost wonders whether they are dealing with totally seperate sales? Has it all been mixed up? HOW is it possible for so many communications to be getting lost in translation!!!!!!! Is this normal!?

Aaaaaaaargh. End of my tether!

harsxx

Congrats to everyone who has exchanged.  Been following this thread for a while joined in a couple of weeks ago asking about if I need to get the electric certificates etc. I explained to the solicitor I'm just waiting to get that done when I move in she hasnt mentioned it since. We put our offer on the property in march and didnt instruct the solicitor until mid April.  Think we are about 5 weeks into the process.  We received the fittings and fixtures form today and solicitor said we are still waiting on 3 enquiries one of them being a certificate for a window that was fitted a few years ago. Just hope it's not going to be much longer waiting to move as we are looking forward to it. We are ftb been waiting for this day for a good few years now saving up for deposit etc  . All searches are back so I just think we are waiting on these enquiries dont know how the whole process works tbh. Anyway wish you all luck and hope you to are not waiting much longer to complete/exchange. 

Natbag

Well I've just sorted the home insurance, so that's one less thing that could cause a delay my end if my solicitor ever does decide to try and exchange.
@amyr - 'incompetent' just doesn't even cover it. How can they be so bad at communicating, managing workload and making reasonable progress? Some of them are just plain incompetent. I would be fired in my job!